Wednesday 4 June 2014

WTI OIL new uptrend soon?

Hi Traders,

In June I do 1-2-1 sessions either online (GoToMeeting) or locally (in Sydney CBD). Anyone who wants to upgrade to a professional level should act now. Please click here to contact me.


ANALYSIS

WTI OIL has completed all the 3 legs of the triangle - see the daily chart below and it's ready to break out the upper line to 106-107 and much higher.

TARGETS

likely: 105.92-106.12
possibly: 107.24-107.34
maybe: 107.96-108.12

ELLIOTT WAVES

The daily chart doesn't show the completion of wave 2 (in blue) yet. The a-b-c  is been followed by wave 1.-2-3. In the weekly chart,  this is part of the last wave up (wave 5) that should take the WTI OIL to 114.80 and maybe higher.



WAVE OSCILLATOR

Note  that the wave oscillator doesn't give it a go yet.



Weekly chart, click to enlarge





 Daily chart, click to enlarge






Wave Oscillator on a daily chart, click to enlarge






4-hour chart, click to enlarge







1-hour chart, click to enlarge

No comments:

Post a Comment

Hi Traders. Tell me if you agree or (politely) disagree.

Note: only a member of this blog may post a comment.